Meats Futures Prices
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- A recap of Friday afternoons news wire (Ags)
There were a few bits of new news that came across the wire Friday afternoon that could affect this weeks trade.
- Redux: Disappointing To Bearish
The final months of 2017 should be either...
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Live cattle futures settled Friday with gains of 45 to 62.5 cents in the front months. Feeder cattle futures were 12.5 to 47.5 cents higher. The CME feeder cattle index was 29 cents lower at $154.79 on October 19.Wholesale beef prices were higher in this afternoon’s report. Choice was up 29 cents at $199.86, with select boxes 38 cents higher at $191.14. Weekly FI cattle slaughter is estimated at 632,000 head through Saturday, about 10,000 larger than the previous week and 30,000 head above the same week last year. Cash trade has ended the week at $111 in most regions, even with last week. This afternoon’s Cattle on Feed report showed on feed numbers 5.43% larger than last October 1 at 10.813 million head. That came from larger than expected placements at 2.15 million head, 13.46% above last September and September marketings at 2.94% greater than last year at 1.783 million head.Oct 17 Cattle closed at $111.675, up $0.475,Dec 17 Cattle closed at $116.600, up $0.450,Feb 18 Cattle closed at $121.275, up $0.625,Oct 17 Feeder Cattle closed at $153.625, up $0.475Nov 17 Feeder Cattle closed at $153.075, up $0.300Jan 18 Feeder Cattle closed at $151.325, up $0.125
Lean hog futures finished with most contracts 47.5 to 62.5 cents higher. The CME Lean Hog Index for 10/18 jumped another $1.13 over the previous day at $63.34. The national base hog was up 88 cents at $64.37 in the Friday afternoon report. The USDA pork carcass cutout value was $1.18 higher at $75.50. The butt was the only primal lower, with the belly $2.60 higher and the picnic up $2.05. Estimated week to date FI hog slaughter is 31,000 head fewer than last week at 2,485,000 head through Saturday, and 39,000 smaller than the same week in 2016.Dec 17 Hogs closed at $64.850, up $0.600,Feb 18 Hogs closed at $69.100, up $0.625Apr 18 Hogs closed at $72.900, up $0.475